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Chevron Shares Hit Record High as BMO Lifts Price Target to $235

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Chevron shares rose nearly 34% since the start of 2026, closing at an all-time high of $211.78 on Sept. 2. BMO raised its price target to $235 and kept an Outperform rating. Chevron also expanded its Venezuela position, planning to invest more than $7 billion over five years to double production to about 600,000 barrels per day with costs below $20 per barrel, though execution and geopolitical risks remain.

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